North Carolina’s tax code penalizes savings and investment by double taxing their returns— specifically interest, dividends, and capital gains. These biases can only be eliminated by removing savings and investment from the tax base, or by eliminating the returns to saving; for example abolishing the taxation of capital gains.
The Tax Foundation estimates that, once all reforms are fully phased in, North Carolina’s overall business tax climate ranking will be 13th best in the country. According to the 2016 index, North Carolina is now ranked as the 15th most attractive business tax climate.
This study surveys North Carolina’s most populous cities and examines how each conducts economic development in its jurisdiction. Collectively, they entered into 238 economic development contracts worth more than $65 million over the five-year period. Actual payments, however, totaled $20.2 million.
For fiscal year 2015-16, the General Fund budget will rise 3.1 percent to $21.7 billion, below the combined rates of population growth and inflation. The following year, the budget will have an overall increase of less than one-percent.
The ACA focuses on expanding coverage through a massive redistribution of wealth in the amount of $1.2 trillion over the next decade. It’s clear that low-income individuals and those with chronic conditions benefit the most from the law’s sliding scale subsidies, but market-oriented tactics can make health insurance (and more importantly medical care) more accessible and affordable and can lessen the risk for insurers to experience adverse selection.
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